Structural Unemployment Results from

question 296

Multiple Choice

Structural unemployment results from

• A)changes in business inventories.
• B)changes in interest rates.
• C)changes in both technology and the changing demand for products.
• D)all of the choices/statements are true.

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Definitions:

Economies Of Scale

The cost advantage achieved by businesses when production becomes efficient, leading to a lower cost per unit as output increases.

Virtual Companies

Companies that rely on a variety of supplier relationships to provide services on demand. Also known as hollow corporations or network companies.

Few Suppliers

Refers to a market situation where only a limited number of vendors provide a certain product or service, potentially leading to less competition and higher prices.

JIT Systems

Inventory management systems that seek to minimize inventory levels by scheduling material arrivals only when they are needed in the manufacturing process.